Sure, even a broken clock is right twice a day. Peter Schiff has been wrong about gold for quite some time, but with yields approaching post-crisis lows real interest rates are getting crushed and gold is once again shining.
Schiff argues gold is approaching $2000. Just today it surpassed $1500 and is now beating the S&P 500 so far this year.
The case for gold is simple. Most of the developed world is swimming in debt and entitlements it will never be able to repay. Politicians won't be able to tax or grow their way out of this mess. Moreover, they won't be able to cut entitlements either. Therefore, central banks will monetize government liabilities, sending real interest rates into negative territory. When the alternatives are weighed, gold outperforms in such an environment.
In the following interview, Peter Schiff provides his outlook for gold and the economy in general: